2% education cess: charged on the amount of income tax + surcharge being paid.

1% education cess (for secondary and higher): charged on the amount of income tax + surcharge being paid.

Less: Rebate under section 87A: Association of Persons(AOP) whose total income is less than Rs.5,00,000, the total rebate amount of Rs 2000 or 100% of the income tax (whichever is lesser).

Foreign Companies

Source of income

Tax Rate

The income received is in the form of royalties by the Indian government in relation to the agreements made with an Indian concern.

50%

The income received is in the form of fees for technical services rendered for the agreements made with Indian concern.

50%

If there is any other income.

40%

Plus:

12% surcharge is added if income is > than Rs 1,00,00,000.

2% education cess: charged on the amount of income tax + surcharge being paid.

1% education cess (for secondary and higher): charged on the amount of income tax + surcharge being paid.

Co-operative Societies

Income slabs

Tax Rate

Up-to Rs 10,000

10%

Rs 10,000 to Rs 20,000

20%

Over 20,000

30%

Plus:

12% surcharge is added if income is > than Rs 1,00,00,000.

2% education cess: charged on the amount of income tax + surcharge being paid.

1% education cess (for secondary and higher): charged on the amount of income tax + surcharge being paid.

For any help onITR Filing feel free to consult the tax experts at LegalRaasta. You can file ITR yourself via our ITR software or get CA’s help on filing income tax return. You can also use the option of Business Return, Bulk Return or Revised Return Filing.